CEO: MARTHA STEWARTâ€™S COMPANY NEEDS MORE EXPERTS

Lyne Tells Analysts MSLO Is Grooming New Group of Personalities

NEW YORK (AdAge.com) -- Even though Martha Stewart has reassumed her role as the face of Martha Stewart Living Omnimedia, her company is working to broaden its stable of personalities, President-CEO Susan Lyne told an audience at the seventh annual Credit Suisse First Boston Media Week conference yesterday.

Photo: AP

Susan Lyne, President-CEO, Martha Stewart Living Omnimedia

â€śMartha has been the face of this company and we love that,â€ť Ms. Lyne said. â€śBut it was important for us to begin growing a new group of expert personalities. Theyâ€™re coming from all over the company at this point, not just from our core group but from our tech groups. Weâ€™ve got two dozen people doing regular programming for us.â€ť

The company seems to view the new faces and voices, found on the syndicated â€śMarthaâ€ť TV show and the just-launched company channel on Sirius Satellite Radio, as something closer to brand extensions than as Marthas-in-waiting. Thatâ€™s in keeping with its strategy to seek growth even while its founding properties age.

â€śAt some point, Martha Stewart Living will reach maturity,â€ť Ms. Lyne said later in her presentation, addressing a question about the publishing division. â€śTo continue growing that segment, weâ€™ll have to keep bringing on magazines that continue that growth.â€ť

'Blueprint' confirmation
Ms. Lyne at another point provided the most detailed confirmation yet of Advertising Ageâ€™s report two weeks ago that the company is preparing a magazine -- tentatively titled Blueprint -- that would target the new-home crowd. â€śWe are excited currently by development weâ€™ve seen on a new lifestyle target that will be going after a somewhat younger audience, the first-time home buyer,â€ť she said.

Acquisitions are unlikely in the publishing sector, which now includes titles like Everyday Food and Body & Soul. â€śI think the full investment in Everyday Food will be about $15 million,â€ť said Ms. Lyne. â€śWhat is clear is that for $15 million, you have a hard time buying a significant title.â€ť

The company is looking for impressive growth next year as it enjoys decreased development costs at Everyday Food and a full 12 months of revenue from â€śMartha,â€ť the Sirius deal and the once-again advertiser-friendly Martha Stewart Living.

Ms. Stewart was released from prison last March, and since then the company has put her out front decisively as its brand image.